Title
Resolution - A Resolution of the City Council of the City of Mansfield, Texas Approving and Authorizing Execution of a Participation Agreement and Trust Instrument for Participation in a Public Funds Investment Pool, Designating the Board of Trustees of the Pool as an Agency, and Instrumentality to Supervise the Pool, Approving Investment Policies of the Pool, Appointing Authorized Representatives and Designating Investment Officers
Requested Action
Review and Approve the Authorization of the Participation Agreement in Public Funds Investment Pool for the City of Mansfield, Texas.
Recommendation
Approve the Authorization of the Participation Agreement of the City’s LOGIC account.
Description/History
The City Council has previously authorized the City to invest City funds in a public funds investment pools allowed by the Public Funds Investment Act adopted by The State of Texas Legislature. The Act outlines guidelines to protect and preserve the public’s funds and has become widely accepted within the policies and practices of the investment community within the State of Texas. This resolution is an authorization to allow the City to investment in a public fund investment pool; LOGIC.
Justification
Staff is seeking authorization to invest in a public funds investment pool to diversify the City’s investment portfolio.
Funding Source
N/A
Prepared By
Troy Lestina, Director of Finance; 817-276-4258
Bryan Rebel, Assistant Director of Finance; 817-276-4296